Debt Crisis | GlobalPost

Greek banks take record loss after debt swap deal

News DeskApril 21, 2012 17:53

Greece's four largest banks posted massive losses Friday, mainly due to their participation in the recent debt swap deal.

Greece: Pro-bailout parties likely to form another coalition

News DeskApril 21, 2012 17:07

Greece's two ruling parties and the only major parties that support the international bailout deal have surged in the polls in recent days, indicating that a coalition government may hold during the May 6 general election.

Greek private islands being sold off after tax hike

News DeskApril 20, 2012 16:14

Sales of Greece's small, private islands is spiking due to higher land taxes recently introduced by the Greek government, according to Greece's daily Kathimerini.

IMF chief sees big boost to lending organization on the horizon

Alexander BesantApril 19, 2012 14:47

International Monetary Fund (IMF) head Christine Lagarde said Thursday that she expects the lending organization to get a large financial boost by donors to help stem the eurozone crisis.

Spain will likely need a bailout to save economy

News DeskApril 18, 2012 13:26

Spain has become front and center in the European debt crisis.

Greek unemployment soars with one fifth out of work

News DeskApril 13, 2012 00:05

The Greek jobless rate rose to 21.8 percent in January according to government statistics released Thursday, with over 1 in 5 Greeks now out of work.

Spanish bond yields rise as debt worries grow

Alexander BesantApril 5, 2012 16:34

Spanish bond yields rose higher on Thursday after investors continued to worry about the European nation's ability to meet its budget projections.

Spain unveils $36 billion austerity budget

Luke BrowneMarch 30, 2012 11:02

The 2012 draft package will see public sector workers’ salaries frozen and departmental budgets cut by nearly 17 percent.

Euro zone ministers boost bloc's firewall to $1TN

Luke BrowneMarch 30, 2012 08:04

Two rescue funds – the European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM) – are to be combined for one year to make more money available in the case of emergency.

ECB loans slow to reach private sector

Luke BrowneMarch 28, 2012 11:48

Data released Wednesday showed that growth of euro zone bank loans to the private sector slowed to an annual rate of 0.7 percent last month – down from 1.1 percent in January – indicating that the ECB’s “wall of money” has yet to translate into a big increase in lending or borrowing.